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US stocks climb as disappointing jobs report lifts stimulus hopes
1 month ago | By Business Insider
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US equities rose on Friday after disappointing labor-market data boosted hopes for an end-of-year stimulus compromise.
The US added 245,000 nonfarm payrolls in November, handily missing the consensus economist estimate of 460,000 additions. The unemployment rate fell to 6.7% from 6.9% and met forecasts.
Though the data suggests the nation's economic recovery is slowing, some see it as raising the chances of a near-term stimulus deal.
"Today's report is beckoning lawmakers to act on additional fiscal stimulus measures," Charlie Ripley, senior investment strategist for...
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US adds 245,000 jobs as virus threatens the economy's slow comeback
1 month ago | By WGN TV
WASHINGTON - U.S. employers added a modest 245,000 jobs in November, as companies scaled back their hiring as the viral pandemic accelerates across the country. This marks the fewest added jobs since April and the fifth straight monthly slowdown.
November's job gain was down from 610,000 in October. Long-term unemployed, those jobless for more than 27 weeks, rose by 385,000 to 3.9 million.
The report Friday from the Labor Department said the unemployment rate fell to 6.7 from 6.9% in October. Since April, the jobless rate has decreased from a peak of 14.7%.
US weekly unemployment claims...
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